The real estate market in Chennai has been cooling off a little, after soaring to dizzy heights over the last year.
Some of the evidence for the slowdown is in the higher volume of advertising for upmarket properties in The Hindu's Property Plus supplement. Some of the properties on offer have been advertised now for weeks together, indicating that there may be overpriced supply, if not oversupply.
One of the big ticket builders is ETA Star of Dubai, which has been advertising Jasmine Court at the Poonamallee end of the Mount - Poonamallee Road.
Here is a view of the project being advertised by the promoter:
One of the key things to bear in mind is the absence of sewerage and piped water supply in such suburban havens. There are almost no good schools or colleges in a radius of 5 km, although this property refers to the Ramachandra Medical College and Research Institute (about 2 km away) as a facility available nearby.
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